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The real income of a consumer is income in terms of:

A. Goods

B. Goods and survices

C. Goods and survices it can purchased

D. Monetary units

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Economic laws are:
  2. The firm is said to be in equilibrium when the difference between revenue and cost is:
  3. In the case of a giffen good, the income effect:
  4. Even in the long-run equilibrium, the pure monopolist can make abnormal profits because of:
  5. From analysis, it is clear that both Marshal and Walras market models are:
  6. The demand of the necessities is:
  7. With the change in the factor prices, the slope of the expansion path will:
  8. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
  9. A good tends to have relatively inelastic demand, if:
  10. A decrease in demand lowers the price the most:
  11. If there are many producers, each of whom has an individual production possibility curve, then the lowest…
  12. The average fixed cost (AFC) curve is asymptote to:
  13. The Law of Proportionality is another name of:
  14. One common definition of a luxury good is a good with income elasticity:
  15. If production increases under constant returns to scale, the cost will:
  16. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  17. In case the two commodities are complements, cross elasticity will be:
  18. In case of monopoly, the price charged against the additional unit is:
  19. General equilibrium is concerned with simultaneous equilibrium of:
  20. Market demand curve is:
  21. Which of the following is not characteristic of perfect competition?
  22. Supply of a commodity refers to:
  23. If the commodity is normal then fall in price will result in:
  24. In cournot model, firms face:
  25. Which of the following is not a U shaped curve:
  26. The Latin term citeris paribus means:
  27. Variable cost includes the cost of:
  28. Demand for a commodity is elastic when it has
  29. If the price of product A decreases and in the result the demand for product B increases then we can…
  30. Utility means: